1. Business Plan Structure
ENT 200
Fundamentals of Entrepreneurship

2. Business Plan Components
Executive Summary
Opportunity Recognition & Business Structure
Market Research
Financial Information & Operations
Marketing & Sales

3. Business Plan Components
Executive Summary
Company Background
Business Description
Business Model
Mission Statement
Market Opportunity
Opportunity
Target Market
Industry Overview
Market Research
Leadership
Qualifications

4. Business Plan Components
Opportunity Recognition & Business Structure
Business Opportunity
What is your business opportunity?
What is the problem/unmet need your business is solving?
How does your business solve the problem/unmet need?

5. Business Plan Components
Opportunity Recognition & Business Structure
Type of Business
What is your type of business? (Manufacturing, wholesale, retail or service)
Manufacturing: Business that uses components, parts or raw materials to make a finished product
Wholesale: Business that distributes goods to retailers (Middle Man) to be sold to consumers
Retail: Business that buys goods from manufacturers/wholesalers and sells to individual consumers
Service: Business that provides intangible products instead of selling physical products
Describe in detail why you chose this business type

6. Business Plan Components
Opportunity Recognition & Business Structure
Type of Business Ownership
Which business ownership type did you select for your business? (Sole Proprietorship, partnership, LLC, S-Corp, C-Corp)
Describe in detail why you chose this business ownership structure
Why did you select this type of business ownership? Why does it make the most sense for your business?

7. Business Plan Components
Opportunity Recognition & Business Structure
Type of Business Ownership
Sole Proprietorship: Business that is owned and operated by just one person
Partnership: Business that is owned and operated by two or more people
LLC: Business that combines the taxation element of a partnership or sole proprietorship with the limited liability of a corporation
S-Corp: Combines the benefits of a corporation with those of a partnership
C-Corp: Corporations that are subject to double taxation
Profits are taxed at the corporate level and again when they are distributed to shareholders

8. Business Plan Components
Opportunity Recognition & Business Structure
Mission Statement
A mission statement is a company’s constant reminder to its employees and customers of why the company exists in a concise way
Describe what your company does best and why in one- two sentences

9. Business Plan Components
Opportunity Recognition & Business Structure
Social Responsibility
Social responsibility is often described as “doing well by doing good”. In addition to making a profit, entrepreneurs need to consider how they support social good
How is your business socially responsible? Be specific.
How do you plan to give back to a social cause with either your time and/or money?

10. Business Plan Components
Opportunity Recognition & Business Structure
Qualifications
What are your personal qualifications to run this particular business? (Experience, certification, classes, skills). To complete this section refer to your strengths from your SWOT Analysis
What qualifications do you need to have to start this business?

11. Business Plan Components
Market Research
What industry does your business belong to? Describe why your business fits within this industry.
What is the size of that industry? (Revenue, service providers, industry trends)
What is the size of your potential target market? What data did you find that supports your business opportunity?

12. Business Plan Components
Market Research – Target Market
Demographics: What objective social and economic facts did you find?
Geographics: Where do your customers live, or where are businesses located?
Psychographics: What are some psychological characteristics (attitudes, beliefs, interests) of your customers?
What are the buying patterns for your target market?

13. Business Plan Components
Market Research
Competitors
Which direct competitors run similar businesses? Describe these competitors in detail.
Which indirect competitors fulfill the same want or need with a different business? Describe these competitors in detail.

14. Business Plan Components
Market Research – Competitive Advantage
Describe your competitive advantage, or what makes your business than your competitors?
What product/service can your business provide that your competitors don’t?
What mix of products/services can your business provide that your competitors don’t?
What specialized selling or delivery method can give your business a competitive edge?
In what unique ways can your business meet customers’ wants or needs
List your three competitive advantages that put you ahead of the competition (Go beyond price)

15. Business Plan Components
Market Research
Business Growth
What trends in your industry could provide additional opportunities for growth?
What next steps would you take to grow your business and/or making it operational?

16. Business Plan Components
Market Research
Challenges
What trends in your industry could provide potential challenges to your business?
What barriers to starting this business exist? What additional education or training could you pursue to overcome these obstacles?

17. Business Plan Components
Financial Information & Operations
Definition of One Unit
What is one unit of sale? Remember that a unit of sale is what the customer actually buys from you, so it should be clear and easy to describe.

18. Business Plan Components
Financial Information & Operations
Production Process/Delivery of Service
List all the steps it takes to get your product or service to your customer. Be specific.
Use table provided

19. Business Plan Components
Financial Information & Operations
Variable Expenses
List all the variable expenses, materials and labor, related to you unit of sale
Use table provided

20. Business Plan Components
Financial Information & Operations
Economics of One Unit
Use table provided

21. Business Plan Components
Financial Information & Operations
Fixed Expenses for One Month
Use table provided

22. Business Plan Components
Financial Information & Operations
Income Statement for First Year of Operations
Use table provided

23. Business Plan Components
Financial Information & Operations
Start-Up Investment
What are your start-up expenditures?
What are your cash reserves?

24. Business Plan Components
Financial Information & Operations
Financial Ratios
Use the table provided

25. Business Plan Components
Marketing & Sales
Marketing Plan
Who are your target customers, and how will you use people to market your business to them?
What are the features and benefits of your product or service?
Where will you sell your product or service?
What strategies for determining prices you will use?

26. Business Plan Components
Marketing & Sales
Promotion
What advertising will you do as part of your promotional strategies? Why will this form of advertising be effective for reaching your target market?
What visual merchandising will you do as part of your promotional strategies? Why will this visual merchandising be effective for reaching your target market?

27. Business Plan Components
Marketing & Sales
Promotion
What publicity and public relations will you include as part of your promotional strategies? Why will these publicity and public relations initiatives be effective for reaching your target market?
What sales promotions will you include as part of your promotional strategies? Why will these forms of sales promotions be effective for reaching your target market?

28. Business Plan Components
Marketing & Sales
Sales Methods
What will be your overall personal selling strategy to get sales from customers in your target market?

29. Business Plan Components
Marketing & Sales
Sales Estimates
Maximum Capacity: What are the maximum amounts of units could you physically make or deliver in a month?
Break-Even Units: How many units do you need to sell to cover fixed expenses every month?

30. Business Plan Components
Marketing & Sales
Sales Estimates
Market Analysis: How many units can you sell based on your number of customers in your target market segment?
Seasonality: How will sales be affected by different seasons and holidays? How will your ability to produce be affected by sales and holidays?